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Home Business

Libya buys two new oil tankers – part of its 2020-23 development plan

bySami Zaptia
August 10, 2023
Reading Time: 2 mins read
A A
Libya buys two new oil tankers – part of its 2020-23 development plan

Libya buys two new oil tankers from Korea (Photo: GNMTC).

Libya’s state General National Maritime Transport Company (GNMTC) announced yesterday that two new tankers, Al-Hayat and Al-Kufra, have joined its fleet. It also revealed that they have already entered commercial operation under time-lease contracts with the Oman Charter Company and Core Transport LLC.

The GNMTC said the two new tankers are Aframax class tankers, with a total tonnage of 115,000 metric tons each, and their accession and entry to work ‘‘is part of the company’s relentless and steady steps towards developing its marine fleet’’.

Aframax (Average Freight Rate Assessment) class tankers are around 240 metres (790 feet) long and have capacities of 80,000 to 120,000 dwt. They carry roughly 500,000 to 800,000 barrels.

The GNMTC said the manufacture of the two tankers was completed in March 2023, at the basins of the Dehan Shipbuilding Company in South Korea. It said they were manufactured to comply with the highest quality standards and requirements of the Oil Companies International Marine Forum (OCIMF), and all international requirements and conditions applicable in the maritime market.

It said this step is an affirmation of the GNMTC’s intention to proceed with the implementation of its 2020-23 plan to develop its marine fleet.

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Tags: GNMTC General National Maritime Transport CompanyOil tanker

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